The UK inventory market has been torpid of late, however that’s throwing up some good worth within the FTSE 100.

There are a number of shares I’d love to purchase however don’t have any spare funds. It’s one of many frustrations of being totally invested.

Nonetheless, they’re on my watch record and appear to me to be rattling their cages and screaming to be purchased! If spare funds develop into accessible in October, I’ll pile in with deeper research and provides them some critical consideration.

A defensive gem

For instance, I just like the look of Coca-Cola HBC (LSE: CCH), the Switzerland-based bottler of Coca-Cola merchandise.

In August, the corporate delivered a good set of half-year outcomes and an upbeat outlook assertion, regardless of some difficult market situations. I reckon the power of the Coca-Cola model serves the enterprise effectively and provides it some robust defensive credentials.

In different phrases, the enterprise may be much less affected by the ups and downs of the broader economic system than many others.

Nevertheless, the administrators aren’t content material for the enterprise to easily tread water. They’ve a transparent long-term development agenda with a imaginative and prescient for the corporate to be “the leading 24/7 beverage partner”.

The operation is giant, serving round 740m shoppers in 29 international locations, and the administrators reckon the product portfolio “is one of the strongest, broadest and most flexible in the beverage industry.”

We’re speaking about manufacturers reminiscent of Coca-Cola, after all, but in addition Costa Espresso, Fanta, Sprite, Schweppes, Kinley, Gray Goose, Caffè Vergnano, Valser, FuzeTea, Powerade, Cappy, Monster Power, Finlandia Vodka, The Macallan and Jack Daniel’s.

There are some highly effective names in that record, and that’s one of many primary causes I’m eager on the corporate as a possible long-term funding.

Trading effectively with development ambitions

In the meantime, close to 2,688p, the share price is down a bit from its summer season highs.

Nevertheless, Metropolis analysts have constructive expectations for the enterprise. They anticipate normalised earnings will develop by round 5% this yr and simply over 10% in 2025.

As with all companies, there are dangers although. One factor we’ve seen in current instances with different comparable firms is that their manufacturers have typically not been as defensive as assumed. Latest enterprise weak point for drinks firm Diageo is one instance.

One other danger is the corporate might someday lose its Coca-Cola licence to a competitor. If that occurs, it will be a catastrophe for the enterprise.

Nonetheless, the forward-looking price-to-earnings ranking is round 13 for 2025 and the anticipated dividend yield is simply over 3.4%. These numbers are much like the typical for the complete FTSE 100, so I see the inventory as providing truthful worth now.

However truthful worth could also be good worth for such a high quality operator. I’m conscious of super-investor Warren Buffett’s method when favours shopping for nice companies at truthful costs slightly than so-so companies at low cost costs.

Coca-Cola HBC is because of launch its third-quarter earnings launch on 29 October and I’ll be watching out for it with nice curiosity.